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N/A 6100.00000000 NS USD 123159.00000000 0.161201401170 Long EC CORP US N 1 N N N BRIDGEPOINT GROUP LTD N/A BRIDGEPOINT GROUP LTD N/A 100000.00000000 NS 674150.00000000 0.882387195404 Long EC CORP GB N 1 N N N FIRSTCASH INC 549300V2X3UU7K0DG350 FIRSTCASH INC 33767D105 7047.00000000 NS USD 558122.40000000 0.730520001822 Long EC CORP US N 1 N N N MGP INGREDIENTS INC NEW 2549006OMHFVZ4MS8538 MGP INGREDIENTS INC 55303J106 10.00000000 NS USD 596.50000000 0.000780752001 Long EC CORP US N 1 N N N BUILDERS FIRSTSOURCE INC 549300W0SKP6L3H7DP63 BUILDERS FIRSTSOURCE 12008R107 25667.00000000 NS USD 1142181.50000000 1.494988252508 Long EC CORP US N 1 N N N UNION BANKSHARES INC N/A UNION BANKSHARES INC 905400107 3504.00000000 NS USD 112653.60000000 0.147451003717 Long EC CORP US N 1 N N N KELLY PARTNERS GROUP HOLDINGS LTD N/A KELLY PARTNERS GROUP HOLDINGS LTD N/A 50400.00000000 NS 143135.97000000 0.187349027857 Long EC CORP AU N 1 N N N BHG GROUP AB 549300ZVMRRF6O85O151 BHG GROUP AB N/A 67846.00000000 NS 1046646.16000000 1.369943142777 Long EC CORP SE N 1 N N N FASHIONETTE AG N/A FASHIONETTE AG N/A 581.00000000 NS 20538.50000000 0.026882606857 Long EC CORP DE N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 Fidelity Securities Lending Cash Central Fund 31635A303 3175796.10800000 NS USD 3176113.69000000 4.157178745392 Long STIV RF US N 1 N N AVID TECHNOLOGY INC 549300PQGW3DXKJTQ914 AVID TECHNOLOGY INC 05367P100 18400.00000000 NS USD 687976.00000000 0.900483888075 Long EC CORP US N 1 N N N TWIN DISC INC 549300FR8EHCY14BLP32 TWIN DISC INC 901476101 6261.00000000 NS USD 92161.92000000 0.120629679020 Long EC CORP US N 1 N N N TALENOM OYJ 7437008E4R0N45B8J675 TALENOM OYJ N/A 33049.00000000 NS 638247.25000000 0.835394498112 Long EC CORP FI N 1 N N N CYXTERA TECHNOLOGIES INC N/A CYXTERA TECHNOLOGIES INC A 23284C102 37130.00000000 NS USD 352363.70000000 0.461204801610 Long EC CORP US N 1 N N MEDIFAST INC 5299000YHQJ21T5KKI80 MEDIFAST INC 58470H101 2175.00000000 NS USD 620984.25000000 0.812799155600 Long EC CORP US N 1 N N N ADDLIFE AB 5493005T3M7CD7XWE013 ADDLIFE AB N/A 21800.00000000 NS 727308.21000000 0.951965366189 Long EC CORP SE N 1 N N N BJS WHOLESALE CLUB HOLDINGS INC 549300UCIWH1C93V0J03 BJS WHSL CLUB HLDGS INC 05550J101 20033.00000000 NS USD 1014471.12000000 1.327829602308 Long EC CORP US N 1 N N N SYNNEX CORP 5493004HI6PFLF46NS53 SYNNEX CORP 87162W100 3702.00000000 NS USD 442537.08000000 0.579231703454 Long EC CORP US N 1 N N N TEAM INC 549300DEKHQ3OEQJWU96 TEAM INC 878155100 4597.00000000 NS USD 28363.49000000 0.037124646433 Long EC CORP US N 1 N N N LIBERATED SYNDICATION INC 549300QG1488DA0B5A29 LIBERATED SYNDICATION INC 53013F100 4422.00000000 NS USD 16228.74000000 0.021241611471 Long EC CORP US N 1 N N N READING INTERNATIONAL INC 549300OHQRI7MW2NQU72 READING INTL INC CL A 755408101 34203.00000000 NS USD 179907.78000000 0.235479227806 Long EC CORP US N 1 N N N EQ PLC 743700R4FA6AVH5J3D68 EQ PLC N/A 1621.00000000 NS 51726.31000000 0.067703973313 Long EC CORP FI N 1 N N N FONIX MOBILE PLC 213800GBZCWQ7HR2ZE92 FONIX MOBILE PLC N/A 43339.00000000 NS 75903.92000000 0.099349769471 Long EC CORP GB N 1 N N N ENVIVA PARTNERS LP 549300WH5VXDEFM5KR81 ENVIVA PARTNERS LP 29414J107 8377.00000000 NS USD 452358.00000000 0.592086192893 Long EC CORP US N 1 N N N RVRC HOLDING AB 549300YU7003VHQV3J57 RVRC HOLDING AB N/A 3200.00000000 NS 27136.29000000 0.035518378442 Long EC CORP SE N 1 N N N UFP TECHNOLOGIES INC 549300RJ8LY41HS70C91 UFP TECHNOLOGIES INC 902673102 4048.00000000 NS USD 241989.44000000 0.316737199850 Long EC CORP US N 1 N N N BRIGHAM MINERALS INC 549300IQ6JCXW59RO175 BRIGHAM MINERALS INC CL A 10918L103 13579.00000000 NS USD 266691.56000000 0.349069521125 Long EC CORP US N 1 N N N EURONEXT NV 724500QJ4QSZ3H9QU415 EURONEXT NV N/A 4028.00000000 NS 448196.57000000 0.586639344941 Long EC CORP NL N 1 N N N GRAFTECH INTERNATIONAL LTD 549300GY32W00XP57351 GRAFTECH INTERNATIONAL LTD 384313508 32600.00000000 NS USD 370662.00000000 0.485155236406 Long EC CORP US N 1 N N N UTAH MEDICAL PRODUCTS INC 5493002R27BBGV8DID60 UTAH MEDICAL PRODUCTS INC 917488108 3494.00000000 NS USD 312363.60000000 0.408849129942 Long EC CORP US N 1 N N N LIBERTY OILFIELD SERVICES INC N/A LIBERTY OILFIELD SERVICES INC CL A 53115L104 38436.00000000 NS USD 391662.84000000 0.512642994781 Long EC CORP US N 1 N N N SHIFT4 PAYMENTS INC N/A SHIFT4 PAYMENTS INC 82452J109 3178.00000000 NS USD 283445.82000000 0.370998979691 Long EC CORP US N 1 N N N NEWMARK GROUP INC N/A NEWMARK GROUP INC CL A 65158N102 29200.00000000 NS USD 376096.00000000 0.492267736620 Long EC CORP US N 1 N N N BIOVENTIX PLC 213800225MHX7LZQY108 BIOVENTIX PLC N/A 874.00000000 NS 47986.97000000 0.062809594117 Long EC CORP GB N 1 N N N BROOKFIELD INFRASTRUCTURE CORP N/A BROOKFIELD INFRASTRUCTURE - A 11275Q107 6300.00000000 NS USD 407988.00000000 0.534010809284 Long EC CORP CA N 1 N N N GMS INC 52990057RENOQO4U0D72 GMS INC 36251C103 29789.00000000 NS USD 1463533.57000000 1.915602287641 Long EC CORP US N 1 N N N JOINT CORP N/A JOINT CORP 47973J102 9590.00000000 NS USD 757514.10000000 0.991501508831 Long EC CORP US N 1 N N N LAREDO PETROLEUM INC. 549300X0PTWU2QSLSL14 LAREDO PETROLEUM INC 516806205 1300.00000000 NS USD 71578.00000000 0.093687622447 Long EC CORP US N 1 N N N PORCH GROUP INC N/A PORCH GROUP INC 733245104 17300.00000000 NS USD 320569.00000000 0.419589083800 Long EC CORP US N 1 N N N GETBUSY PLC 213800LAMARZB9AQJ376 GETBUSY PLC N/A 147008.00000000 NS 168581.42000000 0.220654285235 Long EC CORP GB N 1 N N N HURCO INC XSC5XDOTBYOBQPOG2O82 HURCO INC 447324104 11448.00000000 NS USD 388545.12000000 0.508562246866 Long EC CORP US N 1 N N N FRANKLIN COVEY CO N/A FRANKLIN COVEY CO 353469109 17953.00000000 NS USD 656900.27000000 0.859809221843 Long EC CORP US N 1 N N N 2021-08-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_2942_20210731.htm

Quarterly Holdings Report
for

Fidelity® Small Cap Stock K6 Fund

July 31, 2021







SLCXK6-QTLY-0921
1.9883972.104





Schedule of Investments July 31, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.9%   
 Shares Value 
COMMUNICATION SERVICES - 3.5%   
Diversified Telecommunication Services - 0.1%   
Intred SpA 1,100 $22,052 
LICT Corp. (a) 46,000 
  68,052 
Entertainment - 0.7%   
Lions Gate Entertainment Corp. Class A (a)(b) 16,400 246,492 
Marcus Corp. (a)(b) 6,300 101,241 
Reading International, Inc. Class A (a) 34,203 179,908 
  527,641 
Interactive Media & Services - 0.6%   
Outbrain, Inc. 15,900 311,958 
Synchro Food Co. Ltd. (a) 17,000 54,236 
Trustpilot Group PLC (a)(c) 22,100 110,035 
VerticalScope Holdings, Inc. 300 7,014 
  483,243 
Media - 2.1%   
Cogeco Communications, Inc. 5,581 528,441 
Lee Enterprises, Inc. (a) 6,560 189,584 
Meredith Corp. (a) 11,779 514,036 
Nexstar Broadcasting Group, Inc. Class A 2,551 375,176 
  1,607,237 
TOTAL COMMUNICATION SERVICES  2,686,173 
CONSUMER DISCRETIONARY - 12.7%   
Diversified Consumer Services - 0.5%   
Houghton Mifflin Harcourt Co. (a) 32,000 362,240 
Hotels, Restaurants & Leisure - 0.8%   
Angler Gaming PLC 61,970 125,403 
Best of The Best PLC 900 19,703 
Inspired Entertainment, Inc. (a) 14,700 170,373 
Potbelly Corp. (a) 21,129 147,480 
RCI Hospitality Holdings, Inc. 2,742 172,088 
  635,047 
Household Durables - 0.3%   
Aterian, Inc. (a)(b) 22,207 200,529 
Cricut, Inc. (a) 1,600 54,608 
  255,137 
Internet & Direct Marketing Retail - 4.8%   
Auction Technology Group PLC 600 11,326 
BHG Group AB (a) 67,846 1,046,646 
Fashionette AG 581 20,539 
Global-e Online Ltd. (a) 1,300 90,532 
Home24 AG (a) 17,073 304,198 
Kogan.Com Ltd. (b) 123,693 943,122 
Liquidity Services, Inc. (a) 5,847 116,004 
Porch Group, Inc. Class A (a) 17,300 320,569 
Temple & Webster Group Ltd. (a) 77,011 675,349 
Vente-Unique.Com SA 3,298 80,201 
Victorian Plumbing PLC 7,500 28,148 
  3,636,634 
Leisure Products - 1.3%   
Vista Outdoor, Inc. (a) 24,300 981,477 
Multiline Retail - 0.0%   
Treasure Factory Co. Ltd. 2,100 18,913 
Specialty Retail - 4.9%   
Camping World Holdings, Inc. (b) 17,600 692,736 
JOANN, Inc. 35,600 550,376 
Lyko Group AB (A Shares) (a) 11,689 379,522 
Musti Group OYJ 31,050 1,283,264 
OneWater Marine, Inc. Class A 13,493 633,901 
RVRC Holding AB 3,200 27,136 
Tile Shop Holdings, Inc. (a) 22,800 166,212 
  3,733,147 
Textiles, Apparel & Luxury Goods - 0.1%   
Rocky Brands, Inc. 1,712 93,133 
TOTAL CONSUMER DISCRETIONARY  9,715,728 
CONSUMER STAPLES - 4.3%   
Beverages - 0.0%   
MGP Ingredients, Inc. 10 597 
Food & Staples Retailing - 1.7%   
BJ's Wholesale Club Holdings, Inc. (a) 20,033 1,014,471 
Cake Box Holdings PLC 70,400 311,182 
Neighbourly Pharmacy, Inc. 400 9,458 
  1,335,111 
Food Products - 0.2%   
Farmer Brothers Co. (a) 12,703 123,092 
Personal Products - 1.1%   
Herbalife Nutrition Ltd. (a) 4,774 243,188 
MediFast, Inc. 2,175 620,984 
  864,172 
Tobacco - 1.3%   
Turning Point Brands, Inc. 18,500 980,870 
TOTAL CONSUMER STAPLES  3,303,842 
ENERGY - 3.5%   
Energy Equipment & Services - 0.7%   
Liberty Oilfield Services, Inc. Class A (a) 38,436 391,663 
Newpark Resources, Inc. (a) 40,400 130,492 
Profire Energy, Inc. (a) 10,576 11,316 
  533,471 
Oil, Gas & Consumable Fuels - 2.8%   
Brigham Minerals, Inc. Class A 13,579 266,692 
Enviva Partners LP 8,377 452,358 
Evolution Petroleum Corp. 41,820 176,480 
Extraction Oil & Gas, Inc. (a) 7,157 318,415 
Laredo Petroleum, Inc. (a) 1,300 71,578 
Northern Oil & Gas, Inc. 20,000 345,400 
Oasis Petroleum, Inc. 3,700 339,327 
SilverBow Resources, Inc. (a) 7,864 155,864 
  2,126,114 
TOTAL ENERGY  2,659,585 
FINANCIALS - 16.4%   
Banks - 0.4%   
Parke Bancorp, Inc. 4,670 93,213 
Spirit of Texas Bancshares, Inc. 2,800 65,184 
Union Bankshares, Inc. 3,504 112,654 
  271,051 
Capital Markets - 7.4%   
Allfunds Group PLC (a) 1,700 29,911 
Bridge Investment Group Holdings, Inc. 19,700 310,472 
Bridgepoint Group Ltd. 100,000 674,150 
eQ Oyj PLC 1,621 51,726 
Euronext NV (c) 4,028 448,197 
Gresham House PLC 14,800 187,205 
Impax Asset Management Group PLC 94,951 1,591,702 
Liontrust Asset Management PLC 16,002 465,986 
LPL Financial 6,663 939,750 
StepStone Group, Inc. Class A 10,694 486,684 
Tailwind Acquisition Corp. (a)(b) 18,800 188,000 
Titanium OYJ 10,144 176,890 
Westwood Holdings Group, Inc. 2,562 64,947 
  5,615,620 
Consumer Finance - 0.7%   
First Cash Financial Services, Inc. 7,047 558,122 
Diversified Financial Services - 1.1%   
CCC Intelligent Solutions Holdings, Inc. Class A 53,962 499,688 
Cyxtera Technologies, Inc. Class A (a)(b) 37,130 352,364 
  852,052 
Insurance - 1.7%   
HCI Group, Inc. 5,900 592,832 
Primerica, Inc. 4,823 705,219 
  1,298,051 
Thrifts & Mortgage Finance - 5.1%   
Axos Financial, Inc. (a) 18,754 897,379 
Federal Agricultural Mortgage Corp. Class C (non-vtg.) 2,580 251,550 
Hingham Institution for Savings 942 281,658 
Merchants Bancorp 8,993 329,504 
NMI Holdings, Inc. (a) 25,466 560,761 
Southern Missouri Bancorp, Inc. 7,970 357,694 
Walker & Dunlop, Inc. 11,916 1,233,068 
  3,911,614 
TOTAL FINANCIALS  12,506,510 
HEALTH CARE - 18.1%   
Biotechnology - 1.4%   
Bioventix PLC 874 47,987 
Emergent BioSolutions, Inc. (a) 13,747 905,927 
Prelude Therapeutics, Inc. 2,644 84,714 
  1,038,628 
Health Care Equipment & Supplies - 3.2%   
Medistim ASA 7,413 264,728 
Pro-Dex, Inc. (a) 5,304 162,727 
Semler Scientific, Inc. (a)(b) 6,919 816,442 
TransMedics Group, Inc. (a) 16,360 466,587 
Tristel PLC 50,609 424,189 
Utah Medical Products, Inc. 3,494 312,364 
  2,447,037 
Health Care Providers & Services - 4.4%   
Acadia Healthcare Co., Inc. (a) 8,368 516,473 
ATI Physical Therapy, Inc. (a) 61,694 210,377 
InfuSystems Holdings, Inc. (a) 19,289 352,024 
The Ensign Group, Inc. 14,409 1,225,774 
The Joint Corp. (a) 9,590 757,514 
Viemed Healthcare, Inc. (a) 39,928 277,793 
  3,339,955 
Health Care Technology - 6.1%   
Evolent Health, Inc. (a) 34,386 788,815 
Health Catalyst, Inc. (a)(b) 12,500 725,750 
Inovalon Holdings, Inc. Class A (a) 42,339 1,603,797 
Phreesia, Inc. (a) 17,484 1,195,031 
PKS Holdings Ltd. (a) 134,200 45,794 
Schrodinger, Inc. (a) 4,964 335,914 
  4,695,101 
Life Sciences Tools & Services - 2.9%   
Addlife AB 21,800 727,308 
Diaceutics PLC (a) 66,743 101,122 
Medpace Holdings, Inc. (a) 7,153 1,258,499 
Stevanato Group SpA 6,100 123,159 
  2,210,088 
Pharmaceuticals - 0.1%   
Phibro Animal Health Corp. Class A 4,079 96,550 
TOTAL HEALTH CARE  13,827,359 
INDUSTRIALS - 16.1%   
Building Products - 1.6%   
Builders FirstSource, Inc. (a) 25,667 1,142,182 
Reliance Worldwide Corp. Ltd. 24,015 97,457 
  1,239,639 
Commercial Services & Supplies - 0.9%   
Qleanair Holding AB 37,400 280,661 
Sdiptech AB (a) 8,024 381,700 
Team, Inc. (a) 4,597 28,363 
  690,724 
Construction & Engineering - 1.3%   
NV5 Global, Inc. (a) 10,490 996,550 
Electrical Equipment - 0.6%   
GrafTech International Ltd. 32,600 370,662 
Orion Energy Systems, Inc. (a) 8,922 44,699 
  415,361 
Industrial Conglomerates - 0.2%   
Volati AB 6,389 113,257 
Machinery - 0.7%   
Hurco Companies, Inc. 11,448 388,545 
Mayville Engineering Co., Inc. (a) 4,396 77,238 
Twin Disc, Inc. (a) 6,261 92,162 
  557,945 
Professional Services - 7.0%   
First Advantage Corp. 28,600 560,846 
Franklin Covey Co. (a) 17,953 656,900 
Insperity, Inc. 15,452 1,530,521 
Kelly Partners Group Holdings Ltd. 50,400 143,136 
MISTRAS Group, Inc. (a) 27,598 289,779 
Red Violet, Inc. (a)(b) 25,110 606,155 
SHL-JAPAN Ltd. 2,507 66,363 
Talenom OYJ 33,049 638,247 
TriNet Group, Inc. (a) 10,292 854,030 
  5,345,977 
Trading Companies & Distributors - 3.8%   
AerCap Holdings NV (a) 18,050 956,650 
DXP Enterprises, Inc. (a) 15,629 510,287 
GMS, Inc. (a) 29,789 1,463,534 
  2,930,471 
TOTAL INDUSTRIALS  12,289,924 
INFORMATION TECHNOLOGY - 16.3%   
Communications Equipment - 0.2%   
Casa Systems, Inc. (a) 20,854 156,614 
Electronic Equipment & Components - 1.5%   
Insight Enterprises, Inc. (a) 7,128 715,509 
SYNNEX Corp. 3,702 442,537 
  1,158,046 
IT Services - 5.5%   
BASE, Inc. (a) 13,590 141,221 
Concentrix Corp. (a) 8,110 1,327,850 
Dlocal Ltd. 900 40,626 
ECIT A/S (a) 280,500 336,610 
Flywire Corp. (a) 300 9,528 
Fonix Mobile PLC 43,339 75,904 
Liberated Syndication, Inc. (a) 4,422 16,229 
MoneyGram International, Inc. (a) 79,267 819,621 
Paya Holdings, Inc. (a) 60,500 695,145 
Paymentus Holdings, Inc. (a)(b) 300 8,700 
Payoneer Global, Inc. (a)(b) 5,700 53,808 
Priority Technology Holdings, Inc. (a) 53,189 325,517 
Shift4 Payments, Inc. (a) 3,178 283,446 
TaskUs, Inc. 3,600 109,620 
  4,243,825 
Software - 6.8%   
24sevenoffice Scandinavia AB (a) 61,306 185,163 
Admicom OYJ 4,518 501,111 
ChannelAdvisor Corp. (a) 37,766 879,570 
Cint Group AB 18,300 244,471 
E2open Parent Holdings, Inc. (a) 42,300 425,115 
EcoOnline Holding A/S (a) 26,000 64,744 
Elmo Software Ltd. (a) 57,658 200,984 
Energy One Ltd. 905 4,450 
EverCommerce, Inc. 21,600 379,512 
GetBusy PLC (a) 147,008 168,581 
Intapp, Inc. 8,092 274,319 
LeadDesk Oyj (a) 7,141 199,916 
MSL Solutions Ltd. (a) 542,859 73,700 
Orn Software A/S (a) 88,900 115,216 
Park City Group, Inc. (a) 33,924 190,314 
Paycor HCM, Inc. 300 8,250 
Riskified Ltd. 7,500 205,650 
Sikri Holding A/S (a) 12,905 189,892 
Similarweb Ltd. (a) 700 16,786 
Topicus.Com, Inc. 7,000 527,413 
Upsales Technology AB (a) 27,213 328,766 
  5,183,923 
Technology Hardware, Storage & Peripherals - 2.3%   
Avid Technology, Inc. (a) 18,400 687,976 
NCR Corp. (a) 23,321 1,035,452 
  1,723,428 
TOTAL INFORMATION TECHNOLOGY  12,465,836 
MATERIALS - 1.4%   
Chemicals - 0.4%   
The Chemours Co. LLC 9,900 329,175 
Containers & Packaging - 0.7%   
O-I Glass, Inc. (a) 20,405 301,790 
UFP Technologies, Inc. (a) 4,048 241,989 
  543,779 
Metals & Mining - 0.3%   
Steel Dynamics, Inc. 3,147 202,824 
TOTAL MATERIALS  1,075,778 
REAL ESTATE - 6.5%   
Equity Real Estate Investment Trusts (REITs) - 2.6%   
Essential Properties Realty Trust, Inc. 32,700 974,460 
Spirit Realty Capital, Inc. 21,000 1,054,620 
  2,029,080 
Real Estate Management & Development - 3.9%   
Colliers International Group, Inc. 5,252 673,886 
Cushman & Wakefield PLC (a) 35,723 666,948 
Jones Lang LaSalle, Inc. (a) 5,588 1,243,721 
Newmark Group, Inc. 29,200 376,096 
  2,960,651 
TOTAL REAL ESTATE  4,989,731 
UTILITIES - 1.1%   
Gas Utilities - 0.6%   
Brookfield Infrastructure Corp. A Shares 6,300 407,988 
Independent Power and Renewable Electricity Producers - 0.5%   
NextEra Energy Partners LP 5,152 399,435 
TOTAL UTILITIES  807,423 
TOTAL COMMON STOCKS   
(Cost $58,009,327)  76,327,889 
Money Market Funds - 4.6%   
Fidelity Cash Central Fund 0.06% (d) 197,019 197,058 
Fidelity Securities Lending Cash Central Fund 0.06% (d)(e) 3,317,032 3,317,364 
TOTAL MONEY MARKET FUNDS   
(Cost $3,514,422)  3,514,422 
TOTAL INVESTMENT IN SECURITIES - 104.5%   
(Cost $61,523,749)  79,842,311 
NET OTHER ASSETS (LIABILITIES) - (4.5)%  (3,434,892) 
NET ASSETS - 100%  $76,407,419 

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $558,232 or 0.7% of net assets.

 (d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (e) Investment made with cash collateral received from securities on loan.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $35 
Fidelity Securities Lending Cash Central Fund 10,653 
Total $10,688 

Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Fund Value, beginning of period Purchases Sales Proceeds Realized Gain/Loss Change in Unrealized appreciation (depreciation) Value, end of period % ownership, end of period 
Fidelity Cash Central Fund 0.06% $240,360 $5,395,172 $5,438,474 $-- $-- $197,058 0.0% 
Fidelity Securities Lending Cash Central Fund 0.06% 2,798,014 6,670,984 6,151,634 -- -- 3,317,364 0.0% 
Total $3,038,374 $12,066,156 $11,590,108 $-- $-- $3,514,422  

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. 

Investments in any open-end mutual funds are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

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